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Lynn Prezzo safe from axe

Prezzo has hit financial difficulties
Prezzo has hit financial difficulties

Restaurant workers in Lynn have been reprieved after their branch was not included in a list of sites facing closure.

Prezzo announced its intention to close nearly 100 restaurants across the country under the terms of a proposed company voluntary arrangement (CVA), last week.

But the document says the Lynn restaurant, in the Tuesday Market Place, is deemed to be performing well.

It is listed as a category one premises, described as “performing adequately or, in a small number of cases, are valuable to the group from a strategic perspective.”

Meanwhile, another high street firm, New Look, which has a branch in Lynn’s Vancouver Quarter, has announced plans for its own CVA, which could see more than 60 stores shut.

Although the Lynn branch is not among them, the proposal also seeks a renegotiation of rent terms affecting around two-thirds of their 593 branches.


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